Equities Analysts Offer Predictions for Exelixis Q4 Earnings

Exelixis, Inc. (NASDAQ:EXEL) – Equities researchers at Leerink Partnrs decreased their Q4 2024 earnings per share (EPS) estimates for shares of Exelixis in a note issued to investors on Monday, October 28th. Leerink Partnrs analyst A. Berens now anticipates that the biotechnology company will earn $0.35 per share for the quarter, down from their previous estimate of $0.36. The consensus estimate for Exelixis’ current full-year earnings is $1.58 per share.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.31 by $0.44. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. The business had revenue of $637.18 million for the quarter, compared to analyst estimates of $468.21 million.

Several other analysts have also recently weighed in on EXEL. JMP Securities reaffirmed a “market outperform” rating and set a $29.00 price objective on shares of Exelixis in a research note on Friday, October 11th. Royal Bank of Canada increased their price target on Exelixis from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. HC Wainwright reiterated a “buy” rating and issued a $29.00 price objective on shares of Exelixis in a research report on Wednesday, September 18th. UBS Group assumed coverage on Exelixis in a research note on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price objective on the stock. Finally, Bank of America raised their target price on Exelixis from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.57.

Exelixis Stock Performance

EXEL opened at $28.73 on Tuesday. The firm has a market cap of $8.20 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 0.61 and a beta of 0.54. The firm’s 50-day simple moving average is $26.69 and its 200-day simple moving average is $24.09. Exelixis has a twelve month low of $19.20 and a twelve month high of $29.75.

Insider Activity at Exelixis

In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of Exelixis stock in a transaction on Friday, August 9th. The shares were sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the completion of the sale, the chief financial officer now owns 721,680 shares of the company’s stock, valued at approximately $19,622,479.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director George Poste sold 33,725 shares of Exelixis stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $26.89, for a total transaction of $906,865.25. Following the transaction, the director now owns 199,020 shares of the company’s stock, valued at $5,351,647.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher J. Senner sold 125,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the completion of the sale, the chief financial officer now directly owns 721,680 shares of the company’s stock, valued at $19,622,479.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 327,858 shares of company stock worth $8,640,129 over the last ninety days. Company insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

A number of large investors have recently made changes to their positions in EXEL. Wellington Management Group LLP boosted its holdings in shares of Exelixis by 25.1% in the fourth quarter. Wellington Management Group LLP now owns 129,935 shares of the biotechnology company’s stock valued at $3,117,000 after buying an additional 26,049 shares during the period. First Trust Direct Indexing L.P. acquired a new stake in Exelixis in the 1st quarter valued at approximately $250,000. Commonwealth Equity Services LLC lifted its stake in Exelixis by 4.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 128,033 shares of the biotechnology company’s stock valued at $3,038,000 after acquiring an additional 5,037 shares in the last quarter. Smith Group Asset Management LLC acquired a new position in Exelixis during the 1st quarter worth approximately $228,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Exelixis by 3.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,771 shares of the biotechnology company’s stock worth $778,000 after acquiring an additional 1,301 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Exelixis Company Profile

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.